Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Phemex+0.085%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$322as in the Funding arb table

Net, price: spread back to 7d avg − costs−$315as in the Price arb table

costs, in and out, $10k−$3203.201% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.085%, 7d avg +0.036%

Together, before fees−0.114%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.048% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PONSUSDT	0.5915	0.0100	pay 0.0050% / 4h	1h 10m	$1.6M	$3.2M	20x
Short	SunX PONS-USDT	0.5920	0.0100	get 0.0050% / 4h	1h 10m	—	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee SunXbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.036%: $4.84
Slippage, 4 orders: −$300.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$315.28
Costs to cover: 3.201%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; SunX: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 3 min ago	3.38 bp	38.3 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	104.45 bp	124.5 bp −$125	doesn't fit	doesn't fit	doesn't fit

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0030%	1h	0.5913	−0.026%	$242K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0033%	1h	0.5938	+0.397%	$610	$10K	5.5x	as long as short
Lighter RH PONS	+0.0096%	1h	0.5920	+0.078%	$413K	$2.6M	3x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5919	+0.068%	$22K	$420K	20x	as long as short
Orderly PERP_PONS_USDC_mythos	+0.0100%	4h	0.5924	+0.154%	$2K	$3K	10x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5919	+0.065%	$69K	$130K	5x	as long as short
ApeX Omni PONSUSDT	+0.0100%	1h	0.5921	+0.098%	$29K	$314K	5x	as long as short
SunX PONS-USDTshort	+0.0100%	4h	0.5920	+0.085%	—	$1.2M	10x
SoDEX PONS-USD	+0.0100%	1h	0.5919	+0.071%	$26K	$582K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5908	−0.118%	$64K	$525K	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex PONSUSDTlong	+0.0100%	4h	0.5915	long leg	$1.6M	$3.2M	20x
Aevo PONS-PERP	+0.0200%	1h	0.5919	+0.076%	$369	—	3x	as long as short
Hyperliquid PONS	+0.0257%	1h	0.5920	+0.090%	$60.1M	$29.6M	3x	as long as short
OKX PONS-USDT-SWAP	+0.0408%	4h	0.5918	+0.051%	$13.4M	$55.3M	20x	as long as short
Aster PONSUSDT	+0.0447%	4h	0.5919	+0.060%	$1.1M	$2.2M	20x	as long as short
Binance PONSUSDT	+0.0488%	4h	0.5919	+0.064%	$37.3M	$97.9M	20x	as long as short
Extended PONS-USD	+0.0488%	1h	0.5918	+0.056%	$101K	$807K	5x	as long as short
MEXC PONS_USDT	+0.0488%	4h	0.5920	+0.085%	$7.6M	$4.8M	20x	as long as short
edgeX PONSUSDC	+0.0497%	4h	0.5920	+0.089%	$20K	$289K	10x	as long as short
Pacifica PONS	+0.0556%	1h	0.5921	+0.103%	$45K	$68K	3x	as long as short
Variational Omni PONS	+0.0564%	4h	0.5916	+0.015%	$1.4M	$4.1M	—	as long as short
KuCoin PONSUSDTM	+0.0604%	4h	0.5920	+0.078%	$1.6M	$3.8M	20x	as long as short
Polymarket Perps PONS-USD	+0.0629%	1h	0.5920	+0.081%	$87K	$1.9M	3x	as long as short
BingX PONS-USDT	+0.0678%	4h	0.5919	+0.068%	—	$3.0M	—	as long as short
Bitget PONSUSDT	+0.0680%	4h	0.5923	+0.127%	$4.7M	$12.2M	20x	as long as short
Bybit PONSUSDT	+0.0693%	4h	0.5916	+0.017%	$17.5M	$31.2M	20x	as long as short
BloFin PONS-USDT	+0.0730%	4h	0.5917	+0.034%	$1.7M	$941K	20x	as long as short
Gate PONS_USDT	+0.0798%	4h	0.5918	+0.051%	$5.3M	$6.3M	20x	as long as short
Lighter PONS	+0.0888%	1h	0.5923	+0.140%	$1.6M	$832K	3x	as long as short
Phoenix PONS	+0.1472%	1h	0.5921	+0.100%	$45K	$127K	3x	as long as short